Ferrari price target raised to $570 from $540 at UBS

UBS raised the firm’s price target on Ferrari (RACE) to $570 from $540 and keeps a Buy rating on the shares. Ferrari should unveil new mid-term financial targets at its October 8-9 Capital Markets Day, as well as provide a deeper look into the evolving product roadmap, including the long-awaited debut of Ferrari’s first electric vehicle, the “Elettrica,” the analyst tells investors in a research note. There is a risk the CMD could underwhelm if it fails to deliver incremental upside, UBS cautions.